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In his essay, Henryk Grossman made a powerful case for the continued relevance of Marxist economics. He argued thatCapitalis a fundamentally coherent whole, structured by Marx’s method of moving systematically from more abstract to more concrete levels of analysis. Despite considerable subsequent debate and research, Grossman’s account remains the outstanding contribution to our understanding of this aspect of Marx’s principal work. |
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This thesis constructs a model of the material causes of the capacity of individuals to act at work, by using the ontology of scientific realism to facilitate a synthesis between Marx and Foucault. This synthetic model is submitted as a solution to the long-standing problem of Industrial Relations theory, now manifest in the deconstruction of the organon of 'control'. The problems of 'control' are rooted in the radical concept of power and traditional, base/superstructure, interpretations of Marx. Developing an alternative to (...) |
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This article assess two important recent books on Marx's political economy and argues that, despite many virtues, there are some crucial limitations in their approach to Marx's political economy. Ben Fine's and Alfredo Saad-Filho's Marx's 'Capital' and The Value of Marx by Saad-Filho place too much explanatory weight on the composition of capital, giving too little attention to Marx's analysis of money, and to the processes of circulation and realisation. |
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During the late 1960s, the long post-war economic boom which had characterised the advanced capitalist countries began to fade away. In its wake came an equally long era of stagnation, decline, and political and economic turbulence. Unemployment, inflation, falling profitability, business failures and bankruptcies were the new order of the day, and it became commonplace to see fearful headlines about the possible collapse of the global financial system or even of accumulation itself. |
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Between 1940 and 1980, Ernest Mandel studied many aspects of capitalism. With his magna opera, Traité d'économie marxiste and Der Spätkapitalismus he had a great impact on the social movements which emerged in the 1960s and 1970s of the last century. This article attempts to unravel the story of the development of Mandel's economic historical work. It follows the search for the synthesis of late capitalism, positions Mandel in the Marxist tradition and looks for what was innovative in his contributions. (...) |
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The Marxist theory of crisis has fallen on hard times. Marx's ‘law of the tendency of the rate of profit to fall’, generally seen, at least in recent times, as the basis of the theory, is now widely rejected by economists who regard themselves as broadly working in his tradition. This state of affairs is in large part a consequence on the larger assault on mounted on the theoretical structure of Capital by self-proclaimed supporters of Piero Sraffa during the 1970s. (...) |
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This article aims at contributing to current debates on the ‘new imperialism’ by presenting the main results of a reading of Marx’sCapitalin light of his writings on colonialism, which were unknown in the early Marxist debate on imperialism. It aims to prove that, in his main work, Marx does not analyse a national economy or – correspondingly – an abstract model of capitalist society, but a world-polarising and ever-expanding system. This abstraction allows the identification of the laws of development of (...) |
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The two books under review are both edited collections of essays by some of the most serious scholars internationally concerned with Marx’s method in Capital and related texts. Essays in both books share an emphasis on the ‘openness’ of Marx’s texts which were extensively revised both by Marx in his own lifetime and in the editing performed by Engels. The review engages critically with contributions in both volumes with respect to ‘value-form’ approaches to Marx’s method. It highlights some of the (...) |
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Ernest Mandel theorised the capitalist world economy as an articulated system of capitalist, semi-capitalist and precapitalist relations of production, linked to each other by capitalist relations of exchange and domination by the capitalist world market. This seems to be an interesting starting point for an historically well-founded theory, building on and going beyond Marx's work, of the worldwide expansion of the capitalist mode of production from its origins to the present. In his attempt to formulate his theory, Mandel did not (...) |
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